BlueRun Ventures | With Continued Backing from BlueRun Ventures, Don Quijote Closes 100 Million Yuan Series B Round

Don Quixote, a full-stack collaborative platform for chain-store digital construction, recently closed a RMB 100 million Series B round, led by Hongtai APlus, with follow-on investment from existing shareholders 58 Industry Fund and BlueRun Ventures. The proceeds will primarily fund technology R&D, market expansion, and new business development.

BlueRun Ventures led Don Quixote's Series A+ round and continued to increase its stake in the Pre-B round.

BlueRun Ventures commented: Don Quixote has pioneered a distinctly Chinese model of enterprise services by combining technology, data, and AI. As an early investor, BlueRun has witnessed the company's exploration of enterprise service models. Over the past two years, the company has not only continued building its competitive moat but has also entered a track of rapid, high-quality growth in both business operations and revenue. For China to become a digital powerhouse, enterprise services built on the Chinese model have tremendous potential. Don Quixote is already the leader in China's chain-store digitalization赛道, and we are bullish on the company's future — hence our continued investment.

Founded in 2016 and incubated within Glodon, a major construction technology conglomerate, Don Quixote is a full-stack collaborative platform for chain-store digital construction. It leverages BIM, cloud computing, big data, IoT, mobile internet, and AI to provide chain commercial spaces with one-stop digital turnkey delivery services spanning design, construction, and operations. The company has created a new digital turnkey ecosystem of shared value, co-creation, and mutual benefit involving property owners, designers, contractors, and suppliers. Over its seven years, the company has continually expanded its service boundaries: from focusing on R&D for its core digital turnkey engine and iterating its intelligent BIM product suite; to entering the chain commercial construction market and establishing industry-standard digital renovation models; to offering "AI engine + industry SaaS + supply chain + turnkey" as a restructured industry collaboration platform.

Founder & CEO Yang Zhang noted that since the end of the pandemic, the chain commercial renovation market has experienced a mini growth cycle. Traditional commercial renovation relies on "experience-driven + manual labor" approaches, creating information silos, frequent rework, and quality control challenges — fundamentally failing to solve the problem of low-cost, high-quality, scalable delivery.

Don Quixote adopts an MCO (Model-Construct-Operate) model powered by "BIM technology + data-driven" methodology. Its products can intelligently generate BIM 9D data, eliminating traditional renovation steps such as budgeting, procurement, and project management. Simultaneously, it has built a digital turnkey SaaS collaboration platform connecting brand owners, construction teams, and material suppliers, aiming to become a new-generation full-stack collaborative platform enterprise for chain commercial digital construction.

For upstream clients such as chain brand owners, the company acts as a "principal-agent" or "in-house engineering department," providing digital turnkey services, digital group procurement, and industry SaaS services — including 3D laser scanning + BIM forward design, digital simulation, data production, construction management, material group buying, and SaaS systems. For downstream service providers such as primary and auxiliary material suppliers and construction units, it guides them onto its supply chain platform and establishes cooperative relationships for material supply, construction dispatch, and other services.

Don Quixote's "Four Libraries + One Platform" architecture represents its core proprietary advantage, operating on a data-driven philosophy to achieve refined platform management. The Four Libraries provide data support for standardization and automation in commercial construction; the platform solves workflow digitization and efficient communication collaboration.

The Four Libraries comprise: a component library, a productivity library, a methodology library, and a resource library. These libraries have accumulated and standardized tens of millions of process-level component entries, quantity-pricing data, process methodology standards, and material resource data across different brand operations — enabling project-level scalable replication and application.

The BIM 9D collaboration platform consists of three digital AI engines. The overall workflow employs BIM forward design and simulation concepts to complete multi-disciplinary collaborative design, detailing, and drawing production. Through the BIM model, it can generate construction drawings and quotation lists with one click, automatically outputting corresponding construction organization plans. Finally, through online digital monitoring, it completes project delivery. This model can reduce rework by 90%, shorten timelines by 30%, cut costs by 20%, and decrease carbon emissions by 25%.

Since its last funding round, Don Quixote has achieved exponential revenue growth, with market share and brand influence reaching industry leadership status. The choice to target the chain commercial renovation market stems not only from the backwardness of chain brand owners' own supply-demand chain systems but also from market demand trends — such as the sustained rapid increase in store chainification rates over the past five years, the rapid expansion of commercial chain formats, and accelerating upgrade cycles. By industry estimates, approximately 7.45 million new and renovated chain offline stores open annually, representing a commercial renovation market exceeding RMB 1 trillion.

For funding or partnership inquiries, long-press the QR code below to add BlueRun's "Little Chi" on WeChat and connect with us directly.

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Originating in Silicon Valley, BlueRun Ventures was established in 2005 as a venture capital firm focused on early-stage startups.

Currently, BlueRun Ventures manages multiple USD and RMB dual-currency funds in China, with assets under management exceeding RMB 15 billion, making it one of the largest early-stage funds domestically. It invests primarily at Pre-A and Series A stages, covering technology, consumer, and healthcare sectors. The firm has cumulatively invested in nearly 200 startups, including Li Auto, Waterdrop, QingCloud, Guazi.com, Qudian, Ganji.com, Energy Monster, Gaussian Robotics, Songguo Mobility, Yuntu Semiconductor, Machenike, CloudSaints, AnchNet, and BioMap.

BlueRun Ventures has been ranked #1 on Zero2IPO's "China Top 30 Early-Stage Investment Institutions" and ChinaVenture's "China Best Early-Stage Venture Capital Institutions TOP30," and was named to Preqin's Top 10 Global VC Fund Managers for Sustained High Returns.

Additionally, BlueRun Ventures has received consecutive annual recognition from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media organizations as "China's Best Early-Stage Firm," "China Top-Tier Venture Capital Institution," "Most Entrepreneur-Friendly Early-Stage Firm," and "Most Influential Early-Stage Firm."